Russia

Gaz Group

Industry
Automotive
Symbol
MCX: GAZA
Country
Russia
website
http://gazgroup.ru/en/
Sources

Parent company is Russian Machines Corporation.

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"The Russian GAZ Group has signed a memorandum of understanding with the mayors of Iranian cities: Tabriz, Karaj, Kum and Urmia on the delivery of 900 LiAZ buses. The sides have agreed on the sales of finished buses and the supply possibilities of vehicle CKD sets following the organisation of the assembly of GAZ Group products in Iran."
(March 2017)

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"Gaz [s]ays signs [m]emorandum of understanding with municipal authorities of four cities in Iran for supply of 900 LIAZ buses. Delivery is scheduled to begin in 2017." (Reuters, "Gaz to Supply 900 Buses in Iran," 12/27/2016).

TMK

Industry
Steel
Symbol
MCX: TRMK
Country
Russia
website
https://www.tmk-group.com/
Sources

According to 2018 press release on TMK's website: "TMK was represented by a delegation led by Vladimir Shcherbatykh, head of the Company’s Middle East division.

The trip covered seven countries – Saudi Arabia, Jordan, Lebanon, Iran, Bahrain, Qatar, and Oman. Throughout the trip, TMK held meetings in which its representatives highlighted opportunities offered by the Company to potential partners. They focused in particular on purchase customization of TMK’s tubular products and developing new products for certain customers, and offering advanced staff training opportunities to Middle Eastern companies held at TMK plants."

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"TMK, Russia’s largest manufacturer of steel pipes for the oil and gas industry, is in talks to supply Iran’s oil and gas sector as the Islamic Republic ramps up production following the lifting of international sanctions, the company’s senior vice president said Wednesday. 'We have a program under way to supply some pipes through spot sales and are working on a longer-term contract which could include pipes to transport oil and gas as well as produce it,' Vladimir Shmatovich, senior vice president for strategy and business development at TMK. 'Iran is a very important market for us,' he said. The move shows the potential for Iran to have better access to more modern equipment to refurbish its aging oil industry. It also highlights how Russian companies retain a competitive advantage there despite the opening of the country to Western suppliers since sanctions on Iran were lifted in January. TMK was a major supplier of pipes to Iran’s oil industry before sanctions were imposed." (Wall Street Journal, “Russian Maker of Steel Pipes in Talks to Supply Iran’s Oil Industry,” 3/9/2016)

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"Russian Pipeline Major TMK Swings Away from the U.S. Toward Opportunity in Iran" (February 10, 2016).  

Response

Response: "TMK does not currently sell products or services for use in Iran. We will continue to monitor the measures that the U.S. and other governments take in connection with the JCPOA." (June 4, 2018)

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Response: “We will discuss the questions you raised on the compliance committee meeting in order to check and reconfirm that we have all necessary compliance procedures in place and bring your letter to the notice of the top-managers and BoD members.” (July 15, 2016)

RFC Bank

Industry
Financial Services
Country
Russia
website
http://www.rusfincorp.ru/
Sources

"A senior Iranian trade official said three Russian banks have voiced their readiness to promote banking relations with the Islamic Republic in the near future in a bid to boost commercial cooperation between Tehran and Moscow. Speaking to the Tasnim News Agency on Monday, Mina Mehrnoush, the head of planning at Iran’s Organization for Trade Development, said that during a recent visit to Russia by an Iranian trade delegation, ‘good meetings’ were held with three Russian banks, namely Mir Business Bank, Tempbank and RFC Bank. Mir Business Bank, which is the agent bank of Bank Melli Iran, agreed to provide good facilities and open proper credit lines for Iran, she said. The Iranian trade official went on to say that other issues were also discussed in her meetings with Russian banking officials, including opening accounts for Iranian companies without having to make a trip to Russia. Mehrnoush further said that Tempbank will open a representative office in Iran within a couple of months. During her 4-day stay in Moscow, the Iranian official also met with representatives of about fifty Russian import companies." (Tasnim News Agency, “Iran, Russia to Boost Banking Ties,” 1/25/2016)

Rostec

Industry
Conglomerate, Defense
Country
Russia
website
http://rostec.ru/en/
Sources

"Tekhnopromexport, part of Russia's state industrial conglomerate Rostec, has become the first Russian company to win a large, firm contract with Iran after the end of Western sanctions on the Islamic Republic, the business daily Kommersant writes... The company will build a thermal power plant with a capacity of 1.4 gigawatts (1.4 billion watts) in the port city of Bandar Abbas in about five years... The project is estimated at 1 billion euros ($1.12 billion) and will be financed through a Russian export loan... Kommersant cites analysts as saying that Tekhnopromexport will find it hard to earn on this project and call it a largely political one... Despite growing political ties between Moscow and Tehran, economic cooperation between the two nations faces snags on a number of fronts, including project financing... Iran insists that Russia issue loans to fund joint projects which include Russian contractors... Reuters has not verified this story and does not vouch for its accuracy." (Reuters, "MEDIA - Russia wins first large contract in post-sanctions Iran - Kommersant," 8/1/2016).

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"A subsidiary of Russian state defence company Rostec, United Engine-building Corporation (UEC), is preparing a 50-70 billion rouble ($635-890 million) supply contract with Iranian oil firm Kala Naft Tehran, Russia's TASS news agency reported on Wednesday. If successful, the contract would further strengthen commercial ties between Moscow and Tehran after the rolling back of Western sanctions on Iran over its nuclear programme last month. A top adviser to Iran's Supreme Leader Ayatollah Ali Khamenei, Ali Akbar Velayati, said in Moscow last week Iran and Russia had initialled contracts worth around $40 billion for projects including power-engineering and railway works. 'We have a framework contract with Kala Naft - a subsidiary of the National Iranian Oil Company,' TASS quoted UEC Deputy General Director Sergei Mikhailov as saying. 'We see supplies for a large number of devices, for energy and gas-pumping projects.'" (Reuters, “Russian engine firm, Iranian oil company eye 50-70 bln rbl contract,” 2/10/2016)

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"On Monday, Iran's Minister of Industry, Mining and Trade, Mohammad Reza Nematzade, and his Russian counterpart, Denis Manturov, opened an industrial exhibition in Tehran. The three-day fair by Russian industrial holding Rostec State Corp, along with hundreds of business leaders, aims to introduce Russian industries to Iran, state television's website reported. Rostec owns 700 enterprises, organised into 14 holding companies, and nine of which are focused on the military. Russia is 'not afraid' of Western economic delegations trying to dominate Iranian markets after the lifting of sanctions, a Rostec official said Tuesday... Iranian engineers were examining the Sukhoi Superjet 100, in which the Russians travelled, Kladov said. 'If we can technically satisfy' Iran, a possible number 'around 100 aircraft' would be sold to Iran, he added. Rostec Helicopters was also in talks with Iran to sell new Russian medical helicopters. Rostec will also repair and upgrade a fleet of 50 Russian helicopters now operating in Iran." (AFP, "Work on new Russian nuclear reactors in Iran 'to start next week,'" 12/22/15)

KraMZ

Industry
Industrial Services
Country
Russia
website
http://kramz-trade.ru/eng/
Sources

KraMZ attended the 4th International Iran Aluminium Conference on May 11-12, 2016 in Tehran. The Conference was co-convened by the Iran Mines and Mining Development and Renovation Organization ("IMIDRO"), an Iranian entity that remains subject to U.S. sanctions with its assets blocked in the United States. ("IIAC2016 List of International Attendees").

Response

Response: “We confirm KraMZ doesn't have any business operations with Iran." (5/25/2018)

Tempbank

Industry
Financial Services
Country
Russia
website
http://www.tempbank.ru/eng/
Sources

Tempbank has reportedly opened a “branch in Qeshm [Iran] in order to facilitate economic and trade ties between Iran and Russia.” (Tehran Times, “Russian bank to establish branch in Iran’s Qeshm Island,” 4/2/2016).

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"A senior Iranian trade official said three Russian banks have voiced their readiness to promote banking relations with the Islamic Republic in the near future in a bid to boost commercial cooperation between Tehran and Moscow. Speaking to the Tasnim News Agency on Monday, Mina Mehrnoush, the head of planning at Iran’s Organization for Trade Development, said that during a recent visit to Russia by an Iranian trade delegation, ‘good meetings’ were held with three Russian banks, namely Mir Business Bank, Tempbank and RFC Bank. Mir Business Bank, which is the agent bank of Bank Melli Iran, agreed to provide good facilities and open proper credit lines for Iran, she said. The Iranian trade official went on to say that other issues were also discussed in her meetings with Russian banking officials, including opening accounts for Iranian companies without having to make a trip to Russia. Mehrnoush further said that Tempbank will open a representative office in Iran within a couple of months. During her 4-day stay in Moscow, the Iranian official also met with representatives of about fifty Russian import companies." (Tasnim News Agency, “Iran, Russia to Boost Banking Ties,” 1/25/2016)

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Tempbank is currently engaging in business with the Iranian and Syrian regimes, opening correspondent accounts for the “Central bank of the Islamic Republic of Iran, State export bank of the Islamic Republic of Iran and other Iran banks.” Tempbank asserts, “[a]mid Russian banks we are, de facto, the only one to operate directly with the Central bank of Syria performing settlements with Syrian partners to carry out state objectives on developing cooperation with the Syrian Arab Republic.” (Tempbank Website, “PJSC MJSB ‘Tempbank’ has established cooperation with the Islamic Republic of Iran and the Syrian Arab Republic”).

Krasnye Barrikady

Industry
Energy
Country
Russia
website
http://www.krasbar.com/
Sources

"Russian shipbuilder Krasnye Barrikady and an Iranian company have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf. The deal signed with Iran’s Tasdid Offshore Development Company (TODC) on Sunday envisages the construction of each drilling rig over two years in the port city of Khorramshahr, TODC Managing Director Ehsanollah Mousavi said. The project will be jointly financed by Russia and Iran, and put the Islamic Republic among the countries capable of building drilling rigs... Mousavi signed the agreement with Krasnye Barrikady CEO Alexander Ilyichev, lending a fresh momentum to Iran’s oil and gas development, including its massive South Pars field." (Press TV, "Iran, Russia ink $1 billion oil rig deal," 08/28/2016).

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"Russian shipbuilder Krasnye Barrikady has been awarded a near-$1 billion contract by Iran to build five offshore drilling rigs for use on Iran's part of the Gulf shelf, a company official told Reuters. The project, which was under discussion for almost two years, will be financed jointly by Russia and Iran, the official said. Iran will soon make a 15 percent advance payment on the $200 million price of the first rig, he said." (Reuters, "Russian shipbuilder wins $1 bln Iran contract for five Gulf oil rigs," 5/23/2016)

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"An MoU was signed between Iran’s ISOICO and the Russian Krasnye Barrikady Shipyard on the sidelines of Russian National Industrial Exhibition - Trade and Industrial Dialogue: Russia – Iran 2015. The Memorandum of Understanding (MoU) was signed by managing directors of Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) and the managing director of Russia’s Krasnye Barrikady Shipyard with the presence of Iran’s Deputy Minister of Industry, Mine and Trade Mojtaba Khosro Taj." (December 28, 2015).

United Aircraft Corporation (UAC)

Industry
Aerospace, Defense
Symbol
MCX: UNAC
Country
Russia
website
http://www.uacrussia.ru/en/
Sources

On February 16, 2021, Iowa Public Employees' Retirement System removed United Aircraft from its Iran Prohibited Companies List. 

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As of August 15, 2019, the state of Iowa listed United Aircraft Corp on its Iran scrutinized companies list.

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"Russia is pursuing talks with Iran's Kish Airlines on the possible supply of 15 Russian Tu-204SM aircraft, Russia's Ministry of Industry and Trade said Tuesday. 'The Russian side is ready to offer Tu-204SM aircraft to our Iranian colleagues. Currently, talks are proceeding with the Iranian Kish Airlines on the supply of 10-15 planes of this type,' the ministry said after a meeting between the ministry's head, Denis Manturov, and Iranian Minister of Industries and Business Mohammad Reza Nematzadeh... According to earlier reports, Russia's United Aircraft Corporation has plans to resume cooperation with Iran on the supply of the Tu-204SM airliner after the 2008 suspension of trade due to the imposition of economic sanctions on Iran by the international community." (Sputnik, "Russia Ready to Supply 15 Tu-204SM Planes to Iran," 12/22/15) 

Rostec

Industry
Conglomerate, Defense
Country
Russia
website
http://rostec.ru/en/
Sources

"Russian Rostec plans to test a helicopter in Iran’s hottest regions, with plus 50 degree Celsius temperatures, company told IRNA, Aug.10. Report says that the company would test Ka-226 twin-engined Russian utility helicopter." (August 10, 2017).

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"On Monday, Iran's Minister of Industry, Mining and Trade, Mohammad Reza Nematzade, and his Russian counterpart, Denis Manturov, opened an industrial exhibition in Tehran. The three-day fair by Russian industrial holding Rostec State Corp, along with hundreds of business leaders, aims to introduce Russian industries to Iran, state television's website reported. Rostec owns 700 enterprises, organised into 14 holding companies, and nine of which are focused on the military. Russia is 'not afraid' of Western economic delegations trying to dominate Iranian markets after the lifting of sanctions, a Rostec official said Tuesday... Iranian engineers were examining the Sukhoi Superjet 100, in which the Russians travelled, Kladov said. 'If we can technically satisfy' Iran, a possible number 'around 100 aircraft' would be sold to Iran, he added. Rostec Helicopters was also in talks with Iran to sell new Russian medical helicopters. Rostec will also repair and upgrade a fleet of 50 Russian helicopters now operating in Iran." (AFP, "Work on new Russian nuclear reactors in Iran 'to start next week,'" 12/22/15) 

Rosneft

Industry
Energy
Symbol
MCX: ROSN
Country
Russia
website
http://www.rosneft.com/
Sources

Rosneft is listed as a prohibited company in the March 2020 and March 2021 Report to the New Jersey Legislature Iran Divestment Act. 

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Rosneft is listed in the March 1, 2019, Report to the New Jersey Legislature Iran Divestment Act. 

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"Russian state oil giant Rosneft has reportedly canceled its plans to invest in joint projects worth up to $30 billion with the National Iranian Oil Company over fears of U.S. sanctions, the Vedomosti business daily has said, citing anonymous sources close to the Russian company." (Moscow Times, "Rosneft Pulls Out of $30 Bln Iran Oil Project Over Fears of U.S. Sanctions, Media Reports," 12/13/2018). 

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Russian oil major Rosneft [ROSN.MM], is also preparing to halt Iranian oil imports from November after a communication from the Kremlin. The company has already started cutting its oil imports from this month. (June 29, 2018).

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"Russia’s largest oil producer Rosneft is interested in oil and gas projects in Iran’s Zagros province, after signing a deal last year to do business in the country, an official document showed on Friday." (April 6, 2018).

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"During the visit of the Russian President Vladimir Putin to the Islamic Republic of Iran Rosneft Oil Company and National Iranian Oil Company signed the “Road Map and Key Terms of Strategic Cooperation in the Field of Oil and Gas”. This document confirms the parties high level of interest in developing long-term and mutually beneficial cooperation in key areas of business, including exploration and production, field services, local application of technology, as well as training for personnel." (November 1, 2017)

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"Minister of Petroleum Bijan Zangeneh and visiting Executive Chairman of Russian heavyweight oil company Rosneft Igor Sechin met here on Tuesday to review investment in Iran's development projects. In November, a delegation from Rosneft met Iranian officials with the swap of oil and gas on agenda of negotiations. A joint committee was set up to continue the talks between the two sides, ministry sources told Shana. The Russian firms are interested in IOR and EOR projects and development of Iran's oil and gas fields." (Shana, "Zangeneh, Rosneft CEO Discuss Joint Oil Projects," 12/8/15)